Hutton Companies Commences Construction on La Verne Village in Los Angeles County
IRVINE, CA – May 20, 2013 – (RealEstateRama) — Award-winning national firm KTGY Group, Inc., Architecture + Planning, is pleased to announce that Hutton Companies, one of Southern California’s foremost developers, has begun construction on La Verne Village, a 172-unit mixed-use residential and retail community in La Verne, Calif., located in the San Gabriel Valley, east of Los Angeles, on Foothill Boulevard, the Historic Route 66.
Situated on the site of a former automobile dealership on 7.69 acres, the La Verne Village luxury apartment homes are integrated within the village-center court, complete with more than 15,000 sq. ft. of integrated retail shopping and dining. Contemporary Craftsman architecture, tuck-under garages, and full upgraded appliance packages including a washer/dryer in each residence are all key features. La Verne Village will include a mix of one-, two-and three-bedroom apartment homes ranging in size from 670 – 1,198 sq. ft. The apartment homes will be energy- and water-efficient and will include gourmet kitchens with stainless steel appliances and European-style cabinetry. The community amenities include a pool and spa, fitness center, movie theater, business center and state-of-the-art cable and internet access for the sophisticated foothill resident. La Verne Village will include alternative transportation amenities such as bicycle storage facilities and electric vehicle charging stations.
The $43 million three-story mixed-use development is located at 2855 Foothill Boulevard, east of Fruit Street, and south of the 210 Freeway. Close by are jobs, restaurants, shopping, and public transportation.
“La Verne Village represents a collaborative effort with the local community and is text book infill, repositioning a blighted former auto dealership into the sophisticated mixed-use community this submarket is demanding,” says Scott Felix, vice president of Hutton Companies, which is developing the project. “In a village-center atmosphere, we are creating 172 luxury apartment homes positioned above and around the retail village.”
“The design challenge was quite exciting,” said KTGY’s David Obitz, principal and the lead designer of the project. “We had to take into consideration the density and accessibility challenges for an on-grade parking solution with topography changes of +/-20 feet front to back of the site. The result is a vibrant, fully-integrated mixed-use environment that addresses the pent-up demand for high quality housing and provides an array of retail services and dining opportunities along the Foothill corridor, and has further escalated the caliber and number of residential options and amenities in the community.”
“La Verne Village’s retail component consists of two buildings with suites ranging in size from 1,100 sq. ft. to 7,800 sq. ft.,” said Felix. “Targeting retail, office and restaurant users, both buildings offer ground-floor storefronts facing busy Foothill Boulevard with strong daytime and evening traffic and excellent visibility. Median household income is $64,160 in a 3-mile radius.”
Felix notes that the location is perfect for cafes, restaurants, coffee, ice cream/yogurt business, hair and nail salons and a dry cleaners. Retail leasing is actively underway by NAI Capital in Ontario, Calif. NAI Capital’s Senior Vice President Fred Encinas is the lead leasing agent for La Verne Village’s retail component.
Residential pre-leasing is expected to begin in the fourth quarter of 2013, and the first apartment homes are slated for occupancy in the first quarter of 2014. Prospective residents will be able to visit www.huttoncompanies.com for more information about La Verne Village.
About Hutton Companies
Hutton Companies is one of Southern California’s leading real estate developers. Based in Orange County, CA, and active in Los Angeles, Riverside, and San Bernardino counties, Hutton develops state-of-the-art mixed-use, government, apartment communities, office, retail and light industrial properties since 1977. Hutton Companies and its affiliates have owned, developed and managed a portfolio of more than 3.8 million square feet of commercial real estate and 2,400 units of multi-family residential in Southern California. Hutton currently has hundreds of luxury apartments under construction and hundreds of fully-entitled luxury apartments in Southern California, which will be constructed shortly.
As a long-term investment company, as well as a developer, Hutton takes a comprehensive approach to real estate development by acquiring the land, developing plans, securing entitlements, arranging financing and managing the construction of developments, primarily for the company’s own account and at times in conjunction with select partners or institutions. Hutton serves companies or public agencies requiring build-to-suit commercial or industrial property and individual residential or commercial tenants. Hutton has built an industry-wide reputation for sustainable development, diverse product types, financial stability, and professionalism. For more information, see www.huttoncompanies.com.
About KTGY Group
Celebrating 21 years, KTGY Group, Inc., Architecture and Planning, is a national award-winning firm providing comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, market trends and financial performance. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, Calif., Denver, Colo., and Tysons Corner, Va. See www.KTGY.com.